NOTE: The information contained herein has been obtained from sources deemed reliable and believed to be accurate. However, no express or implied warranty is made as to the accuracy of these representations. Prospective purchasers are encouraged to consult with the appropriate government authorities regarding the permitted uses of the property and perform their own due diligence in advance of the auction. All dimensions and acreage contained herein are more or less.

GENERAL INFORMATION

LOCATION:

PRIME HIGH VISIBILITY AND TRAFFIC CORNER - READY TO BUILD! The site is located on the northeast corner of McDonogh Road and Painters Mill Road, adjacent to the Owings Mills Corporate Campus, T. Rowe Price Headquarters and McDonogh School. New home construction is across the street and underway in the immediate area. The site is within one mile of the MTA Owings Mills subway station, Owings Mills Mall, I-795 and within minutes of Reisterstown Road and I-695.

The site has been cleared and sediment control devices have been installed.

Water, sewer, storm drain and other development plans have been designed and/or approved by the appropriate government agencies.

Building permits have been issued for the property from the Department of Permits and Development Management of Baltimore County allowing the grading of the site and the construction of a three story retail/office building with side drive-through areas.
BUILDING & GRADING PERMITS

Deposit payable by cashier's check of $100,000 will be required of the purchaser at time and place of sale. The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers. Balance to be paid in cash within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement. Taxes and all other public charges and assessments, payable on an annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, without express or implied warranty as to the existing zoning or use, the exact lot sizes, and the nature and description of any improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale forward. The purchaser waives and releases the Sellers, the Auctioneers, and their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Sellers are unable to convey good and marketable title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneer. A 5% Buyers Premium will be added to the final bid price. At or prior to settlement, the Purchaser must replace the current Owner's letters of credit for the required amount of security by Baltimore County. ($163,600 for the storm water management and $16,335 for the grading). Purchasers are urged to contact Baltimore County for the exact amounts that will be required to replace these letters of credit. TIME IS OF THE ESSENCE.